S Bank Fund Management Ltd Takes Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• S Bank Fund Management Ltd has acquired a new stake in Bristol Myers Squibb, purchasing 107,496 shares valued at approximately $6.5 million, making it the firm's 25th largest holding.
• Several major investors like Vanguard Group and Ameriprise Financial have also increased their stakes in Bristol Myers Squibb, which is currently owned 76.41% by institutional investors.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding estimates, alongside a quarterly dividend of $0.62, indicating a robust financial outlook.

S Bank Fund Management Ltd bought a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 107,496 shares of the biopharmaceutical company's stock, valued at approximately $6,556,000. Bristol Myers Squibb accounts for 1.2% of S Bank Fund Management Ltd's investment portfolio, making the stock its 25th largest position.

Several other large investors also recently modified their holdings of BMY. Ameriprise Financial Inc. raised its position in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Bristol Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after buying an additional 10,913,708 shares during the period. Nuveen LLC bought a new position in shares of Bristol Myers Squibb during the first quarter valued at approximately $624,369,000. Northern Trust Corp lifted its stake in Bristol Myers Squibb by 16.2% in the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after acquiring an additional 3,431,248 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Bristol Myers Squibb by 72.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock valued at $439,427,000 after acquiring an additional 3,275,061 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on BMY. Daiwa America lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. Jefferies Financial Group cut their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus price target of $56.38.

Bristol Myers Squibb Stock Up 1.3%

Shares of Bristol Myers Squibb stock traded up $0.64 on Friday, reaching $48.45. The company's stock had a trading volume of 11,206,898 shares, compared to its average volume of 12,717,643. Bristol Myers Squibb Company has a 52 week low of $42.96 and a 52 week high of $63.33. The firm's fifty day simple moving average is $47.23 and its two-hundred day simple moving average is $51.45. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $98.62 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.48 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 EPS. Equities analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is 100.00%.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.